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Pensions Security

When the government introduced pension freedoms earlier this year, there was disquiet in some areas about the potential for rogue companies and individuals to mislead investors. A report issued from the Citizens Advice Bureau would tend to bear this out. The report comments that over 55s are being repeatedly targeted with cold calls and emails offering fraudulent investment opportunities. These include recommending pension moneys being invested in unspecified high return investments or in areas such as overseas property or fine wines.

Commenting on the survey Citizens Advice Chief Executive Gillian Guy said “Pension and investment scams are particularly dangerous as they can destroy people’s entire pension pot, leaving them with little or no savings for retirement.” Pensions’ minister, Baroness Roz Altmann also commented “if you get cold-called by someone offering a pension review or help to trace a lost pension, hang up because the chances are it’s a scam.”


Image courtesy: https://upload.wikimedia.org/wikipedia/commons/9/94/Hand_holding_phone.jpg